Equity Benchmark outperformed over fifth consecutive week as Indian Stock Market Indices settled at all time high - NIFTY at 17,323 and SENSEX at 58,129 mark.
Oil & Gas, Metals, Consumer Durables and Realty indices rose the most while Telecom and Banks declined.
On the BSE sectoral front, S&P BSE FMCG was the major gainer, up 1.56% followed by S&P BSE IT, up 1.54% and S&P BSE Consumer Durables, up 1.5%. S&P BSE Auto was the major loser, down 0.25% followed by S&P BSE Oil & Gas, down 0.07%.
The overall market breadth on BSE was strong with 1,942 scrips advancing and 1,245 scrips declining. A total of 153 scrips remained unchanged.
Exide Industries’ total investment in the insurance company was about ₹1,680 crore.
2) Reliance Industries is reportedly planning to acquire Norwegian solar panel maker REC Group from China National Chemical Corp (ChemChina).
Reliance Retail Ventures Limited (RRVL) has taken sole control of Just Dial in accordance with the SEBI takeover regulations with effect from September 1, 2021. Reliance Retail Ventures Ltd now holds 40.98 percent in Just Dial Ltd. On July 20, 2021, RRVL had acquired 1.31 crore equity shares of Rs 10 each of Just Dial at a price of Rs 1,020 per equity share from the company’s CEO VSS Mani on the floor of the stock exchange through the block window facility.
3) Maruti Suzuki: Owing to a supply constraint of electronic components, Maruti Suzuki is expecting a fall of 60% in normal production in both Haryana and its contract manufacturing company, Suzuki Motor Gujarat Pvt. Ltd.
4) Dr Reddy's Laboratories has launched generic Chlordiazepoxide Hydrochloride and Clidinium Bromide capsules in the US market. The capsules are used for the treatment of stomach ulcers, irritable bowel syndrome and inflammation of the colon.
Dr Reddy’s Laboratories and Natco Pharma have launched the generic version of the cancer drug Revlimid in the Canadian markets.
5) Axis Bank has tied up with BharatPe to expand its merchant acquiring business in India.
The RBI has imposed a Rs 25 lakh fine on Axis Bank for rule violations. RBI cited contravention of certain provisions of KYC norms as the reason behind the fine.
Axis Bank said it has started issuing debt securities under its Rs 35,000 crore-debt raise plan announced earlier this year.
8) Tata Motors has launched the Tigor EV at Rs 11.99 lakh. The car is the second electric vehicle launched by Tata Motors for the personal buyer after Nexon EV.
9) Coal India has initiated the process of retrofitting Liquefied Natural Gas (LNG) kits in its dumpers. The move is expected to save around Rs 500 crore annually and provide a push to reduce the company’s carbon footprint.
10) ONGC has abandoned its underground coal gasification (UCG) project. It cited the low calorific value of syngas, low gas price, and unavailability of business partners as the reasons behind the move.
ONGC is evaluating the purchase of stake in Russia's Vostok Oil project, according to a media report.
Oil and Natural Gas Corp (ONGC) has pumped first gas from its deep-water U1B well in Krishna Godavari block KG-D5 in the Bay of Bengal. The well, in KG-DWN 98/2 Block's Cluster-2, has an estimated peak production of 1.2 million cubic meters per day of gas.
11) Exide Industries is looking to set up the first lithium ion battery cell manufacturing facility in India called Advance Cell Chemistry Project or ACC.
12) Jet Airways is aiming to resume flights in the first quarter of 2022, a media report mentioned.
13) Kitex Garments’ proposal to invest Rs 1,000 crore in Telangana state has been approved.
14) IPO Corner:
a) Ami Organics IPO was subscribed 64.54 times at the end of Day 3 of bidding. It received bids for 42.22 crore shares against an offer of 65 lakh shares.
AMI Organics IPO Price: INR 603 - 610 per Equity Share issuing minimum 1 Lot = 24 Shares with total cut-off amount INR 14,640.
Bidding details at the end of Day 3:
Retail Individual Investors: 13.36 times the reserved portion
Non Institutional Investors: 154.81 times the reserved portion
Qualified Institutional Buyers: 86.64 times the reserved portion
b) Vijaya Diagnostic IPO was subscribed 4.54 times at the end of Day 3 of bidding. It received bids for 11.36 crore shares against an offer of 2.50 crore shares.
IPO Price Brand: INR 522 - 530 per equity share
1 Market Lot = 28 shares
Min. Cut-off Price = INR 14,868
Bidding details at the end of Day 3:
Retail Individual Investors: 1.09 times the reserved portion
Non Institutional Investors: 1.32 times the reserved portion
Qualified Institutional Buyers: 13.07 times the reserved portion
Employees: 0.98 times the reserved portion
15) SpiceJet: Around 150 employees of SpiceJet walked out from Delhi airport complaining of non-payment of dues. The airline said that the issue has now been resolved and operations were not affected.
16) Future Retail sought an early hearing in the SC regarding the Future-Reliance deal.
17) RailTel Corporation of India Ltd. has received a contract from Directorate of Information Technology, Indian Air Force, Ministry of Defence for implementation of Secure OPS Network for value of Rs. 299.95cr (Inclusive of GST). The work is to be executed over a period of 12 months.
18) Granules India received licence from Defence Research & Development Organisation (DRDO), Ministry of Defence, Government of India, to manufacture and market of 2- Deoxy-DGlucose (2-DG).
19) GST Collections for July at Rs 1.12 Lakh Crore: The government’s goods and services tax revenue collection remained above Rs 1 lakh crore in July, but fell over the previous month. GST revenue for July, collected in August, stood at Rs 1,12,020 crore. That is 3.7% lower than the Rs 1,16,393 crore collected for June. Collections were 29.5% above a year earlier.
20) State Bank of India has raised Rs 4,000 crore of the Basel- compliant Additional Tier 1 (AT1) bonds, it announced on September 1. The bank raised the amount at a coupon rate of 7.72 percent.
21) Sun Pharma Advanced Research Company (SPARC) said it will seek shareholders' approval to raise up to Rs 1,800 crore through various modes, including issue of equity shares and securities. The company proposes to raise the funds in one or more tranches, by way of public / private offerings, qualified institutional placement, rights offering or any other permissible mode.
22) HCL Technologies Ltd has launched a dedicated HCL Cisco ecosystem unit focused on creating solutions to accelerate clients’ digital journeys. HCL’s Cisco ecosystem unit will create leading-edge competencies, solutions and business outcome models by leveraging Cisco technologies. It will aim to ensure the success of complex transformation programs around software-defined network transformation, network-as-a-service, digital workplace, multi-cloud modernization, hyper-automation, security, optimized application experience, private 5G and telco modernization.
23) BHEL bags Rs 10,800 cr order from NPCIL: State-owned engineering firm BHEL said it has bagged an order worth Rs 10,800 crore from NPCIL. ''BHEL secures largest ever order worth Rs 10,800 Crores from NPCIL for EPC of Turbine Island for 6 units of 700 MWe," it said in a BSE filing. The six orders, received on August 30, 2021, envisage setting up of four units of 700 MWe at Gorakhpur, Haryana, and two units of 700 MWe at Kaiga, Karnataka.
24) BSE-listed financial technology company Infibeam Avenues is in talks with US-based private equity firm Bernstein Equity partners for selling a substantial stake in the company, two people aware of the development said. Prior to the investment, Infibeam would look to split the company into two verticals—a fintech payment gateway and a fintech platform—one of these people said.
25) Larsen & Toubro (L&T) on Tuesday said it has concluded the divestment of its entire stake in 99 MW hydro power plant at Singoli-Bhatwari in Uttarakhand to ReNew Power Services Private Limited. L&T received a consideration of Rs 1,001.50 crore as divestment proceeds.
26) Shoppers Stop Ltd, which runs a chain of departmental stores, is selling its controlling stake in Crossword Bookstores to the owners of Agarwal Business House (ABH) for approximately ₹41.6 crore, as it seeks to focus on its core business.
27) Shares of AU Small Finance Bank extended fall on report quoting that the bank’s Head Internal Audit at Jaipur Head Office Sumit Dhir has resigned. Dhir was seen as a replacement for Nitin Gupta, Chief Audit Officer who resigned on March 3, 2021. This is the third high profile resignation at AU SFB in recent months.
On July 14, 2021, Alok Gupta resigned from the post of Chief Risk Officer. Further, Sumit Dhir had come to AU SFB after serving at Kotak Mahindra Bank for more than 18 years. He has been reporting directly to Sanjay Agarwal, MD & CEO of the bank.
28) Wipro Ltd and HERE Technologies, a location data and technology platform, have partnered to offer location-based services to customers from energy & utilities, manufacturing, transport & logistics, telecom, and automotive industry verticals.
29) SRF, a leading chemical manufacturer, has announced to issue bonus shares. The company will issue the bonus share in the proportion of 4 shares for every 1 share.
30) Punjab National Bank said it has waived all service charges and processing fee on retail products as part of its festival season offering. Punjab National Bank (PNB) has launched a festival bonanza offer to enhance the availability and affordability of credit to customers, it said in a release.
31) Mutual Fund Category
The Securities and Exchange Board of India (Sebi), India's capital markets regulator, has granted Zerodha permission to establish an Asset Management Company (AMC).
• Mutual funds bought equity worth Rs. 8033.84 crore as against sale of Rs. 8323.39 crore as on Aug 26, 2021. This led to a net sale of Rs. 289.55 crore compared with a net purchase of Rs. 17.24 crore on Aug 25, 2021.
32) Global Indices:
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